After its impressive recent performance, EigenLayer’s price is currently in a correction. In the last 24 hours, EigenLayer has dropped by 11.8% to trade at $3.58 as of 11:30 AM. While EIGEN’s recent rally pushed it into the top 100, today’s correction has seen it drop to position #115 in market cap rankings. EIGEN currently has a market capitalization of $663 million.
Bull Flag Pattern Points to More Upside
EigenLayer is currently consolidating between the $3.97 resistance and $3.06 support intra-day. This pattern indicates that bears have been trying to take the market after the recent EIGEN price rally. However, they lack the volumes to drive the price lower. This means a minor increase in buying volumes could trigger a continuation of EigenLayer’s recent price rally.
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In the event that EIGEN breaks through the 24-hour high of $4.92, then a rally to prices above $5 could follow in the short term. However, if there is a price correction that pushes EIGEN below $3.49, then a correction to around $3.0 could follow.
Bulls Still in Control of EIGEN Despite Correction
From a technical standpoint, indicators on EIGEN’s 1-hour chart reveal that bullish momentum is currently stronger than bearish pressure. The Relative Strength Index (RSI) and the 9 Exponential Moving Average (EMA) are both displaying positive signals. EIGEN’s price remains above the 9 EMA, typically an indicator of building bullish momentum and a possible opportunity for buyers.
Additionally, the RSI on the 1-hour chart is positioned at 50, suggesting bulls are still in control, though its downward slope hints at a possible weakening momentum. However, the support provided by the 9 EMA and the presence of a bull flag pattern point toward a potential continuation of the upward trend for EIGEN. Even as investors look forward to a second bull wave for EigenLayer price, impressive opportunities await them at PEPE Unchained (PEPU).
PEPU – Introducing Scalability to Meme Coins
This year, one of the fastest-growing sectors in the Web3 domain is undoubtedly that of the meme coin market, which saw millions of investments. However, because of these huge demand increases, the predominant blockchains such as those for Ethereum, Solana, and the TON chain have become strained.
With its layer-2 network, Pepe Unchained (PEPU) plans to solve this problem by reducing the transaction burden on these blockchains and offering additional infrastructure support to meme coins. At first, PEPU will focus on the well-known token PEPE, the third-largest meme coin by market capitalization. In the longer term, the network is aimed at supporting existing and new meme coins operating and facilitating functions across many blockchain networks.
This is a big deal for meme coin investors. Any meme coin deployed on Pepe Unchained could see its transaction speeds increase parabolically. The costs of sending such meme coins will also reduce drastically, making things even easier for investors.
Investors Take Up PEPU Pre-Sale With Excitement
Going by the uptake of its ICO, it is clear that investors are interested in PEPE Unchained. The ICO is currently underway and has already attracted more than $16.9 million from investors. Whales are part of the fray, and recently, one big investor bought a huge amount of Pepe Unchained.
Pepe Unchained is also attracting major YouTubers, a big factor in the success of any new cryptocurrency. One such YouTuber is ClayBro, who recently made a 100x prediction for PEPU. This is a big deal, considering that ClayBro has more than 100k followers.
PEPU is currently going for $0.0099 and investors can get in using BNB, Ethereum, and even USDT. There is also the option to buy PEPU using fiat, making it even more accessible to the average investor.
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